Should you choose the St Kitts real estate option to get citizenship? The St Kitts government allows investors to choose from two well established options to qualify for the St Kitts citizenship by investment program. You must make a prudent decision according to your personal circumstances.
The first consideration is that the government contribution is nonrefundable. Additionally, it will require a minimum investment amount of $150,000. It is the easy way to qualify. But is it wise to forgo the St Kitts real estate benefits? A wise investor would think twice.
Indeed, applicants can also qualify by purchasing government approved real estate with a minimum price tag of $200,000. In return you receive a tangible asset along with lifetime St Kitts citizenship. However, this valuable asset includes many additional benefits!
List of St Kitts Real Estate Benefits
- Live in the St Kitts Tax Haven
- Get a Valid St Kitts Street Address
- Establish St Kitts Tax Residency
- Additional St Kitts Real Estate Benefits
- Residential Real Estate Option (Limited Time)
- How to get St Kitts Citizenship
Live in a 100% Legitimate Tax Haven Country
The Island Federation of Saint Kitts and Nevis is the smallest country in the Western Hemisphere, both in land area and population. Nonetheless, the country consists of beautiful twin Caribbean islands with all the perks of a tropical paradise. Therefore, they are like two sparkling gems glimmering in the Caribbean Sea. Beautiful beaches and mountainous interior draw tourists from around the world to its sandy shoreline.
In addition, St Kitts and Nevis is a 100% legitimate tax haven country. Solid evidence of their legitimacy is provided by the country’s exclusion from the Corporate Tax Haven Index 2021 published by the Tax Justice Network. In fact, none of the Caribbean citizenship by investment countries are included on this name and shame list of alleged tax dodging countries.
Indeed, St Kitts and Nevis offers real estate investors credible tax solutions to escape oppressive income tax regimes. The St Kitts island federation uses 100% authentic tax laws. The elimination of all personal income tax has been ingrained in the constitution since 1980. As a result, investors have nothing to fear and everything to gain.
Use the St Kitts citizenship by investment program to gain a lifetime of financial security and global access. Learn everything you need to know! Accomplish your goals in the most effective and efficient manner at the lowest possible cost.
Get Valid Street Address When You Buy Real Estate
When you qualify by purchasing St Kitts real estate you get a local address. As a result, you are on the fast track to obtain tax residency in the St Kitts and Nevis.
Alternatively, St Kitts real estate ownership allows you to choose among dozens of countries for your tax residency, not only St Kitts and Nevis. Indeed, any country that offers a territorial based tax system or a no personal income tax system will allow you to eliminate all global income tax. There are many options including the UAE, Singapore, Thailand, Vanuatu and Monaco plus much more.
Learn everything you need to know about the St Kitts Tax Haven. Eliminate all income tax, capital gains tax and wealth taxes.
In addition, St Kitts and Nevis is a member state of both CARICOM (Caribbean Community) and also the Organization of Eastern Caribbean States (OECS). Under the CARICOM and OECS agreements, a citizen of any member state has the right to live and work in any other member state.
Since St Kitts is a member state of both organizations, citizens of St Kitts can enter for indefinite stay into OECS countries such as Antigua or Grenada. As a result, enjoy tax loopholes that are 100% legal! This is not tax evasion, it is prudent tax planning for wise individuals and their families.
How Do I Get St Kitts Tax Residency?
If you have already acquired St Kitts citizenship, you have a legal claim to St Kitts tax residency status. Furthermore, the St Kitts real estate option provides you with a local address. Therefore, you have an established nexus to the St Kitts tax haven.
However, you can solidify your tax residency claim even further with a St Kitts driver’s license and tax identification number (TIN). Plus, for extra protection obtain a local SIM card/phone bills. These items establish exactly what foreign tax authorities require to make a credible tax residency claim.
The next step is for you to choose the country where you intend to spend most of your time. This is an important decision since your country of tax residency can impose income tax on you. Fortunately, there are many territorial tax countries. There are also many countries to choose from that have no personal income tax at all!
After you choose the country that is best for you, initially enter the country with your St Kitts and Nevis passport. Now use the passport to apply for your residency visa. Additionally, when you open bank accounts, enter business contracts and enter rental agreements always use your St Kitts passport for identification and St Kitts real estate address as your home address.
If the forms ask for your country of tax residency, enter St Kitts and Nevis along with your local TIN. As a result, you will be completely free of all personal income tax!
Additional St Kitts Real Estate Benefits
To qualify for the St Kitts citizenship by investment program, applicants must purchase government approved real estate. There are many options to choose from on St Kitts and Nevis. However, buyers must have an eye on the future. This is because at some point you will wish to sell the property.
Investors first become eligible to sell the property after a 5 year holding period if the purchase amount was a minimum of $400,000. Alternatively, a 7 year holding period will apply if your purchase amount was only $200,000 or above.
Realistically, what will you be able to sell the property for in 5 or 7 years? The sales price must be sufficient to allow you to recover the full investment amount. Isn’t this ultimate St Kitts real estate benefit?
Of course you need to get your money back! Therefore, investors must follow through to obtain the ultimate benefit of selling the asset. Plus, get a satisfactory ROI during the holding period.
Earn a 4-5% investment yield under the developer’s 90% profit sharing agreement.
The best government approved real estate developments are already well established. As a result, there is no risk of developer insolvency with properties still in the construction phase. Your investment is indeed secured with a tangible asset that is backed with St Kitts citizenship. Therefore, you will earn a respectable investment yield with minimal risk.
Your 5% annual return on a $220,000 investment is $11,000 per year. Multiply this by the seven year holding period and it comes a return of $77,000.
In addition, investors can factor in the most beneficial aspect of St Kitts citizenship. The fact is that you will have saved many thousands of dollars by eliminating your personal income taxes. Indeed, your St Kitts real estate investment has the potential to pay you back many times over!
Residential Real Estate Option for Limited Time
Until November 2022, St Kitts citizenship applicants have the option to purchase residential real estate to qualify for the citizenship program. The minimum purchase price for residential real estate is set at a minimum of $400,000.
However, your resale options are limited. This is because you cannot sell the property to a new citizenship applicant. By eliminating new citizenship applicants, it may significantly reduce the pool of potential buyers when it comes time to sell the property. Additionally, if the property is not backed by citizenship what can you really expect to sell it for?
Some private owners are currently raising prices to match the minimum qualification set by the government. As a result, the actual price that you will be able to sell at may be significantly lower than what you bought it for.
Residential property purchased to qualify for St Kitts citizenship cannot be resold to a new citizenship applicant.
Do you really want to live in St Kitts and Nevis? Unlike the commercial hotel investment options, residential real estate will not provide a ROI. Therefore, you have got to live at the property to make the investment work. This is a good option for people who have already spent time in St Kitts and Nevis.
Do you know the local real estate market? This will give you protection against price gouging and unscrupulous real estate agents. If so, this investment option has great potential to offer good returns in addition to a passport. Otherwise, a safer bet is the time tested hotel investment option described above.
St Kitts Citizenship Application Process
The purchase of real estate is the final step in the approval process. Applicants must first complete all application forms and collect the supporting documents. When everything has been checked by our legal team the application package is ready for submission to the St Kitts CIU.
After the letter of acceptance is received from the government, the investment funds are collected. The purchase and sale agreement is then executed and title to the property is transferred into your name. This is when your passports are issued and we deliver them to you along with the certificates of naturalization.
The final step is the most rewarding! It will be our pleasure to guide you through the application process and accomplish the ultimate objective. My partners and I have 35+ years of experience working with the Caribbean citizenship programs. Contact me today to begin your journey to financial freedom and global access.